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I think DeepFuckingValue is smarter than you give him credit for. It's worth leaving $20M on the table if it lets you tell the SEC "look, I'm clearly an idiot,
by cperciva 6y ago
I think DeepFuckingValue is smarter than you give him credit for. It's worth leaving $20M on the table if it lets you tell the SEC "look, I'm clearly an idiot, there's no way I could have been deliberately engineering a pump and dump scheme".
Better to take $15M of profit than to gamble $35M on the SEC deciding not to prosecute.
- ac2u 6y agoIf he did offload his entire position at the "top", and became seen as a symbolic catalyst of a subsequent drop, I reckon it's randomers on the internet that took a loss that he'd be more worried about. Especially when the newspapers decided to plaster his real identity all over the place.
- vimy 6y agoThe SEC doesn’t have a case. He’s been holding for 2 years and was laughed at many times by people on the wallstreetbets sub.
- cperciva 6y agoThe SEC wouldn't be prosecuting him for holding GME. They would be prosecuting him for pumping up the stock price.
- vimy 6y agoMy point is that the sub didn't take him and GME seriously until December or something. You can't be a laughing stock and a pump and dump mastermind at the same time.
- cperciva 6y agoI'm not so sure about that. Spending 2 years trying to pump the stock and failing doesn't change what happened later. You can't escape a murder charge by saying "I spent two years trying and failing to kill the victim"!